Housing advocates have filed complaints against two national banks for allegedly allowing foreclosed homes in black and Latino neighborhoods to fall into disrepair, while at the same time taking better care of bank-owned houses in predominantly white areas.

The complaint against Wells Fargo says many of the bank’s homes in minority neighborhoods have garbage outside them as well as broken doors and windows.

The National Fair Housing Alliance examined 218 homes owned by Wells Fargo in cities across the U.S., including Washington, DC, Baltimore, Philadelphia, Dallas, Miami and Atlanta. Of these, 99 were in predominantly African-American communities, 15 in predominantly Latino communities, 35 in majority non-White communities and 69 in predominantly White communities. Each property was evaluated for 37 factors in seven categories of maintenance: curb appeal, structure, signage and occupancy, paint and siding, gutters, water damage, and utilities.

In communities of color, 67% of properties had more than five maintenance or marketing deficiencies, while only 41% of properties in white communities did. Thirteen percent of properties in minority neighborhoods had more than ten maintenance or marketing deficiencies compared to just 7% in white neighborhoods.

Comments

Luis Meyers
2 years ago

i am just take a peek and i discovered your post. it has a great content and i am impressed also with your thoughts. thank you for sharing.
here are a resources for how to buy a foreclosed property. i like to use: http://www.foreclosuredeals.com/how-to-buy-foreclosure-homes.php